In an interview to Moneycontrol, Ameera Shah, Managing Director of Metropolis said the company will continue to be on fast pace expansion, and doubling market share in five focus cities and eight seeding cities.
Metropolis Healthcare, the third largest listed diagnostic chain, raised Rs 1,204 crore through the public issue which was subscribed 5.84 times earlier this month
Smaller Cap World Fund Inc also purchased 6,86,545 shares of the diagnostic chain at Rs 957.67 per share.
Metropolis Healthcare's market valuation was at Rs 4,814.90 crore on the BSE
If one wants to buy, he/she can accumulate Metropolis Healthcare below its issue price, experts said.
The stock opened with a 9 percent premium over its issue price of Rs 880 while on the National Stock Exchange it opened at Rs 958.
All analysts are betting on the stock for long term given strong brand name, wide geographic coverage, rising healthcare sector and expected strong earnings in coming years. They expect double digit returns in coming years
The reserved portion for qualified institutional investors has seen subscription of 8.88 times and non-institutional investors 3.03 times while retail investors part is subscribed 2.21 times.
The category reserved for institutional investors was subscribed 8.88 times, while non-institutional investors segment was subscribed by 3.03 times. The retail investor category was subscribed 2.17 times, according to sources.
The category reserved for non-institutional investors was subscribed 9 per cent, while that for retail individual investors was subscribed 25 per cent.
Aditya Birla Money has come out with its report on Metropolis Healthcare. The research firm has recommended to "Subscribe" the IPO in its research report as on April 03, 2019
Considering its better operating metrics, attractive valuations which are justifiable to listed peer Dr Lal Pathlabs, brokerages advise subscribing the issue for listing gains as well as for long term
The price band for the IPO has been fixed in the range of Rs 877-880 per equity share.
Promoters of the company are Dr Sushil Kanubhai Shah, Ameera Sushil Shah and Metz Advisory LLP.
The company on March 28 said it is raising up to Rs 1,204 crore, by selling 13,685,095 shares or 27.3 percent together held by the founder promoter Dr Sushil Kanubhai Shah and private equity (PE) investor Carlyle Group in an IPO.
The public issue, which consists of 1,36,85,095 equity shares, will close on April 5.
With this, the total companies getting clearance from SEBI to launch IPO has reached 73 so far this year.
The objective of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and for the offer for sale, it said.
The company currently has 150 labs with 1,800 collection centres and processes over 4,500 varieties of tests.
The initial public offering (IPO) of Thyrocare was oversubscribed 73.55 times in a price band of Rs 420-446. The issue was open for bidding from April 27-29.
The Rs 479.21-crore IPO received bids for 55.25 crore shares against the total issue size of 75,21,297 shares, as per data available till 1900 hrs.
The Rs 479.21-crore IPO received bids for 77,30,514 shares against the total issue size of 75,21,297 shares, as per the NSE data till 1200 hrs.
The IPO is scheduled to close on April 29, as per the Red Herring Prospectus (RHP).
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